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You wrote,

Ummmm, isn't USAA a B&M bank? It does have a physical location. It is not just a on-line bank.

Ak, wondering how one of my Credit Unions would be pegged. I've never been there, always (including opening the account) done my business from a distance, for over 20 years. My bank and 2 CU's have full on-line access, gotta love it!

Wonderful point.

My father is a Farmer's Insurance Group agent, which qualifies him and his family members for the company credit union. Twenty plus (20+) years ago, as a teenager, I held a FIG CU checking account just because FIG was paying 7% on checking accounts. My local S&L passbook account was paying 5.25%.

I believe the credit union was in Austin, Texas; I was in Ft. Worth. I've never seen their offices. I made all my deposits by mail. (Stamps were 10 cents and they sent me deposit envelopes.) To make a withdrawal required me to deposit a check in my passbook account.

Except for bill pay and ACH, my FIG CU account sounds much unchanged from what we deal with here on this board.


Actually, so-called on-line merchants are really just what we used to call mail-order houses. The only difference is that now they can send you their catalog and get your order with almost no delay, more exposure and a smaller staff. E-commerce is simply old-fashioned mail-order businesses with new names and new facades.

All of which makes me wonder this talk about "taxing the internet." I thought that issue was settle by the U.S. Supreme Court back in the 70's. The Supreme Court decided that a state could not impose a tax on interstate commerce without impinging on the U.S. Constitution. If that ruling still stands, it would seem any "internet tax" would be struck down in a heartbeat by the courts.

- Joel
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